AmEx Report: Sales Soared for Online Only Luxury Retailers in 2009
Posted on April 24, 2010The recession was a good thing for online only luxury retailers. Internet Retailer reports that an American Express study found that online only luxury goods retailers increased sales by 87% in 2009 compared to 2008. That's really good considering last year was a recession and many retailers were watching sales fall.
The report, From Peak to Recovery: Snapshots of Global Luxury Spending, also said that luxury spending began to stabilize in the second half of 2009 and growth restarted in the first quarter of this year.